MRA Advisory Group Raises Position in Eli Lilly and Company (NYSE:LLY)

MRA Advisory Group increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 29.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,530 shares of the company’s stock after buying an additional 351 shares during the quarter. Eli Lilly and Company accounts for about 0.6% of MRA Advisory Group’s portfolio, making the stock its 28th largest position. MRA Advisory Group’s holdings in Eli Lilly and Company were worth $1,181,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company during the third quarter worth about $27,000. MidAtlantic Capital Management Inc. purchased a new stake in Eli Lilly and Company during the 3rd quarter worth approximately $30,000. Highline Wealth Partners LLC grew its position in Eli Lilly and Company by 80.0% during the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after purchasing an additional 20 shares during the last quarter. Cedar Mountain Advisors LLC increased its stake in Eli Lilly and Company by 53.3% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock valued at $41,000 after purchasing an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company in the third quarter worth $58,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 6.9 %

Shares of LLY opened at $742.80 on Wednesday. The firm has a market cap of $705.15 billion, a P/E ratio of 80.30, a PEG ratio of 2.99 and a beta of 0.41. Eli Lilly and Company has a 12 month low of $612.70 and a 12 month high of $972.53. The stock’s 50 day moving average is $784.63 and its two-hundred day moving average is $857.48. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. Analysts predict that Eli Lilly and Company will post 13.18 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. Eli Lilly and Company’s dividend payout ratio is 64.86%.

Eli Lilly and Company declared that its board has approved a stock buyback plan on Monday, December 9th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Sanford C. Bernstein started coverage on Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Barclays cut their price objective on Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Citigroup lifted their target price on Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America reiterated a “buy” rating and issued a $997.00 price target on shares of Eli Lilly and Company in a report on Tuesday, December 10th. Finally, Redburn Atlantic upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $1,002.22.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.